Question

A 95% confidence interval's endpoints

Group of answer choices

define the range containing 95% of the possible values.

are random variables that lie on opposite sides of the true value with 95% probability.

can be calculated from the population distribution using an asymptotic formula.

will contain the estimator within their range 95% of the time under the null hypothesis.

To assess "how big" an estimated slope coefficient is (i.e., assess its economic significance), you should

Group of answer choices

analyze the economic importance of an estimated change in Y given a realistic change in X

check if the slope coefficient is larger than one unit change in Y per unit increase of X

test the slope coefficient for statistical significance (usually at a 5% level, but depends on the empirical application)

change the scale of the X variable if the coefficient appears to be too small

Let B be an estimator of parameter b. B has upward bias if

Group of answer choices

E(B) - b > 0

E(B) - b < 0

0 < E(B)/b < 1

[none of these]

Answer 1

Answer - 1: A 95% confidence interval's endpoints will contain the estimator within their range 95% of the time under the null hypothesis.

Answer - 2: To assess "how big" an estimated slope coefficient is (i.e., assess its economic significance), you should test the slope coefficient for statistical significance (usually at a 5% level, but depends on the empirical application).

Answer - 3: Let B be an estimator of parameter b. B has upward bias if E(B) - b > 0.